Why AI-Assisted Robotic Process Automation Should Be Your Next Major IT Investment?
Are you looking for ways to save time and money by optimizing business processes? Is increasing the capability of your teams, whether it’s sales or other, on top of your mind? If you are looking to achieve accelerated growth and operational excellence of your business but do not know where to start – Robotic Process Automation (RPA) is for you.
What is Robotic Process Automation?
RPA is an application of technology, governed by business logic and structured inputs, aimed at automating business processes. Using RPA tools, a company can configure software, or a “robot”, to capture and interpret applications for processing a transaction, manipulating data, triggering responses, and communicating with other digital systems. RPA scenarios range from something as simple as generating an automatic response to an email to deploying thousands of bots, each programmed to automate jobs in an Enterprise Resource Planning (ERP) system. RPA is considered to be a crucial part of hyperautomation initiatives.
"In 2021, Gartner surveys found that more than 50% of CEOs and 69% of boards of directors are demanding accelerated growth and operational excellence. Hyperautomation provides a critical path toward achieving both." (Gartner, "Top Strategic Technology Trends for 2022: Hyperautomation", October 2021)
Benefits of RPA
AI-assisted RPA can help in quote-to-cash by automating sales operations. For example, by extracting customer requirements from different file formats, selecting relevant products, and adding them to the proposal, and then sending them back to the customer.
Such AI-assisted processing can accelerate response time by up to 85%* and allow your sales reps to dedicate most of their time to selling. (*according to the data from graip ROI calculator)
AI-assisted RPA takes away the burden of manual repetitive tasks thus improving employee experience. It can help business operations become more productive and data-driven by reducing the administrative burden of manual repetitive tasks that must be performed on a daily basis.
One of the concerns regarding AI, in general, is that its purpose is to replace humans. We at graip disagree with this view and that’s why we are empowering human creativity by allowing our robots to take care of boring tasks.
According to Harvard Business Review, even more roles will open as a result of this shift — 97 million to be exact. (HBR, "Why Robots Won't Steal Your Job", March 2021)
Manual repetitive tasks that must be performed on a daily basis are error-prone. Such mistakes could be critical and result in financial losses.
The abovementioned problem has serious consequences. When a sales rep makes an error, it negatively affects the buyer’s experience.
Another important benefit of AI-assisted RPA is clearly defined ROI. In general, this is a very painful topic for executives because it is hard or even impossible to calculate even approximate ROI for such investments. CRM implementation is suffering a lot from it: it seems like the benefits are clear but since ROI is hard to predict, executives and boards are less likely to give a green light to such projects. With AI-assisted RPA it is different. By knowing initial data like hourly/yearly employee cost, average customer requests line number and processing time, and yearly amount of documents, you can calculate ROI. This greatly distinguishes such IT investments from others.
Why RPA should be your next major IT investment?
Now that we have taken a look at the benefits of RPA, the answer to the question of why AI-assisted RPA should be your next major IT investment is clear. It is one of the pillars of accelerated growth and operational excellence. Without AI-assisted RPA these are hardly achievable. Data from Gartner shows that many companies are already implementing AI-related solutions in their business processes and that there is an understanding of the necessity of such investments among executives and boards.
Let’s highlight the key benefits of AI-assisted RPA:
Helps sales teams to be more efficient;
Takes away the burden of manual repetitive work;
Exists not to replace humans, but to assist them;
Minimizes the possibility of human error;
Improves buying experience;
ROI could be clearly defined.
Are you interested to find out more about how AI-assisted RPA can help your business achieve accelerated growth and operational excellence?
Founded by CLARITY, leaders in CRM, CPQ, and Billing space for many years, graip combines the power of rules-based Robotic Process Automation and self-learning Artificial Intelligence to automate manual repetitive and error-prone tasks. We help companies to increase process efficiency and accuracy, reduce human errors, increase employee productivity, and lower processing costs.